NEW DELHI: H. Abdur Raqeeb, convener of the National Committee on Islamic Banking, met with Salman Khursheed, Indian minister of state for minority and corporate affairs, in New Delhi recently and discussed prospects of introducing the interest-free Islamic banking system in India. Raqeeb, who is also general secretary of the Indian Center for Islamic Finance (ICIF), said Indian society, especially its marginalized people and minorities, would benefit from Islamic finance. “It would also help India attract the much needed funds for its infrastructure projects,” he told the minister. Raqeeb was accompanied by Mohammed Sadath, an ICIF executive. The minister was presented with a number of documents including the RBI Working Group Report and the Dr. Raghuram Rajan Committee Report.
